Spacious homes with large lots and mature trees, like this single-family home in Manalapan being shown by Realtors Angelo and Antonio Liguori, continue to bring high prices. Jerry Lower/The Coastal Star
By Charles Elmore
Headwinds like higher interest rates have slowed single-family home sales nationally, but high-end buyers, many paying cash, continue to make a splash along Palm Beach County’s southern coast despite a limited inventory, agents say.
A Boca Raton waterfront mansion sold for $40 million this spring, reported as a high for the city. A $50 million sale in May in Highland Beach ranked as the loftiest price in that town, according to the Palm Beach County Property Appraiser’s Office website.
And a town record was set June 27 in Gulf Stream, with the recording of the sale of a 12,717-square- foot residence at 3223 N. Ocean Blvd. for $39 million, county records show.
“The market peaked so high with COVID-19 that when it leveled off, people thought, ‘Oh my gosh, it’s going to crash,’” said Pascal Liguori, broker associate with Premier Estate Properties in Delray Beach.
“It didn’t.”
